Scripscan:Oriental Trimex Ltd
cmp:6
Code:532817
Story:The Net Income of the Company for the fy11 was 14223.59 lakhs, registering a marginal growth of 8% over the corresponding previous year since the real-estate and housing sector has been facing a severe slow down during past two-three years now.The trading activities of the Company increase fourfold during the year under review since Company had to cater to certain projects on an urgent basis for which ready material was procured to cut short the time lag. Strengthening ofmanufacturing processes resulted in increase of manufacturing expenses by around 42%. Personnel expenses increased by approx.16% in view of the fresh recruitment and anuual increments for the existing manpower. Financial expenses increased by 8% due to increase in the overall exposure of credit and increase in interest rates by the Banks. The strict monitoring of the administrative and selling costs resulted in reduced of the same by around 7% during the year under view. The profit before tax for the year increased by 8% and Net Profit increased by 14%.The Company’s Singur Unit commenced production during August 2010. The Company set up three new exclusive franchisee with registered brand name “Rare Earth” in Dehradun, Cuttack and Bhatinda.These franchisees are marketing exclusively the natural and engineered marble with brand “Marbre Oriental”.The Company’s expansion program, conceptualized in 2005 and initiated in 2007-08 has been successfully completed. The capacity of Greater Noida unit has been increased to 25200 MTPA, two units with annual processing capacity of 12600 MT have been set up at Gumidipoondi near Chennai and at Singur district of West Bengal. All the units of the Company are now equipped with latest state of art resin filling and polishing imported machinery. With improvement in the overall market outlook for real-estate and housing sector, the output from the units set up in the expansion program would start giving results from the financial year 2011-12 and onwards.Its a decent company and bright future seems to be on its side.Keep the stock in your radar folks.
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